CCbill..Do this and make money while helping us out - GoFuckYourself.com - Adult Webmaster Forum

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BVF

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#1

CCbill..Do this and make money while helping us out

08-28-2003, 08:10 AM

I just thought of something....What if CCbill offered to withhold
33% of your income each week for the whole year to cover the tax bill of the webmaster. At the end of the year, CCbill sends out the collected money to the webmasters.

The webmasters then won't have to worry about having the money to pay their tax every year. Also, if they have a good accountant, they'll pay much less than 33% of their income....This will be a nice little check for the webmaster at the end of the year.

CCbill makes more money because all of that money they are holding for the year, they can keep it in their bank and make all of that money off of the interest.

How feasible would it be to do this?

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SGS

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#2

08-28-2003, 08:13 AM

Brilliant idea!

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Sly_RJ

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#3

08-28-2003, 08:13 AM

Why would anyone want to do this? Every penny I get TODAY can be reinvested back into my business. Invest wisely, make more money.

And I doubt CCBill would place the money in some savings account. They would need to spend it for tax reasons.

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nosey

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#4

08-28-2003, 08:13 AM

Originally posted by Jokke
why should ccbill earn the interest and not me *?

how about just asking your bank to take 33% off your account each month, and put it away for a year ?

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Suckitbitch

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#5

08-28-2003, 08:13 AM

If it's for tax withholding purposes that money is remitted to the IRS fool, CCBill can't hold onto it and get interest.

I think I'd rather get the full amount and continue to manage my finances like an adult.
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hitman699

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#6

08-28-2003, 08:23 AM

Originally posted by BVF
I just thought of something....What if CCbill offered to withhold
33% of your income each week for the whole year to cover the tax bill of the webmaster. At the end of the year, CCbill sends out the collected money to the webmasters.

The webmasters then won't have to worry about having the money to pay their tax every year. Also, if they have a good accountant, they'll pay much less than 33% of their income....This will be a nice little check for the webmaster at the end of the year.

CCbill makes more money because all of that money they are holding for the year, they can keep it in their bank and make all of that money off of the interest.

How feasible would it be to do this?

Yeah cause we know how good these processors are at staying
in business,. brilliant idea. Lets give them a 38% reserve to keep.

I hope this was a joke and you not seriously that fucking stupid
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tony286

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#7

08-28-2003, 08:24 AM

Actually to offer a 33% hold as a option would be a cool idea. We are business with a accountant so its a different story but I know a few smaller webmaster who dont realize about taxes or have the maturity to hold the money. Also what interest are you talking about go to a bank and ask how much interest you get on a saving account they will laugh at you. lol
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BVF

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#8

08-28-2003, 08:28 AM

Originally posted by hitman699

Yeah cause we know how good these processors are at staying
in business,. brilliant idea. Lets give them a 38% reserve to keep.

I hope this was a joke and you not seriously that fucking stupid

Good God man! what crawled up your ass today! I said they could give the OPTION to do this. I didn't say that would MAKE you do it....And this is ccbill i'm talking about...if they go down, most of us are fucked anyway...

And to Tony404, banks give a piddly amount of interest but if they are putting millions in it per week, that shit adds up. And I'm sure they would have better ways to maximize the return on that money.

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FlyingIguana

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#9

08-28-2003, 08:29 AM

or just put it in a savings account yourself. why let them collect interest?
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#10

08-28-2003, 08:31 AM

that was spacedog's post
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#11

08-28-2003, 08:32 AM

------------> GLOBILL <--------------
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#12

08-28-2003, 10:05 AM

might be a good idea if you are bad at saving money. i put away money every month for taxes, as should most.

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rooster

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#13

08-28-2003, 10:09 AM

definitely a retarded idea. If someone is that bad with money, maybe being in business isnt a good thing.

Plus why would I want a 3rd party processor that could go belly up at a moments notice to hold a bunch of my money.

Ever notice that pretty much everything added to the Constitution after the original was a mistake.
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lexr

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#14

08-28-2003, 12:38 PM

No offense, but as a financial advisor I think this is a really bad idea. It might work great with salaried employees (well, it's a requirement too) but definitely not with the self-employed who manage their own business.

If you aren't good with money then either hire someone who is (that's what accountants are for) or perhaps being in business for yourself just isn't for you.

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Carrie

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#15

08-28-2003, 12:42 PM

This idea is why most people do not understand how much they pay in taxes.
All withholding, done by *any* employer, should be stopped.
It's *your* money, you should be able to do with it as you will - invest it, spend it, wipe your ass with it if you want.

The more people who have to look at an actual tax bill at the end of the year and write out a check to cover it, the better. The ones who see a return coming back never BOTHER to learn anything about taxes and how much they're paying.
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TheSaint

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#16

08-28-2003, 02:26 PM

I can't believe anyone would actually sign up for this, lol.

How about instead CCBill don't hold back my reserve and if at the end of the year you need it, I will write you a check?

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lexr

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#17

08-28-2003, 02:43 PM

Originally posted by Carrie
This idea is why most people do not understand how much they pay in taxes.
All withholding, done by *any* employer, should be stopped.
It's *your* money, you should be able to do with it as you will - invest it, spend it, wipe your ass with it if you want.

The more people who have to look at an actual tax bill at the end of the year and write out a check to cover it, the better. The ones who see a return coming back never BOTHER to learn anything about taxes and how much they're paying.

I couldn't agree more. Most people I've dealt with who have portions of their tax withheld have absolutely no idea how much extra tax they owe - they either end up underpaying and get penalized or overpaying by a TON. Why let the IRS hold on to your extra money while you could use it to pay off high-interest credit card bills, loans or even save it and earn some of your own interest?

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mhende6600

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#18

08-28-2003, 02:52 PM

Originally posted by BVF
I just thought of something....What if CCbill offered to withhold
33% of your income each week for the whole year to cover the tax bill of the webmaster. At the end of the year, CCbill sends out the collected money to the webmasters.

The webmasters then won't have to worry about having the money to pay their tax every year. Also, if they have a good accountant, they'll pay much less than 33% of their income....This will be a nice little check for the webmaster at the end of the year.

CCbill makes more money because all of that money they are holding for the year, they can keep it in their bank and make all of that money off of the interest.

How feasible would it be to do this?

Very bad idea, a man does not need anyone to "hold" his money for him. Hire an accountant you you won't have to pay much in taxes

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